Bunalun’s owner, National Organics, was sold for an undisclosed amount to Bellingham Capital.
The company, headquartered in Bray, generated sales of around 22 million euros in 2020 and employs 43 people. Its organic food products are stocked throughout Ireland and the company has further expanded to other markets including Great Britain, the United Arab Emirates and Australia.
National Organics co-founder and CEO Kieran Dunne will remain in his role.
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“Having built a strong business in Ireland, we now look forward to developing Bunalun’s customer base in international markets and are delighted to be working with BellCap in support of this goal,” said Mr. Dunne.
This is the fund’s first investment, which was founded by former ABP Food Group leader Mark Goodman in 2021. It focuses on investing in agribusiness, food industry and projects. renewable in Ireland and Great Britain.
“BellCap was founded with the ambition to invest in sustainable market-leading agriculture, food and renewable companies in Ireland and the UK,” said Mr. Goodman. “We are very proud that our first investment is to acquire one of Ireland’s leading food retail brands. Our goal now is to work with the excellent team at National Organics to take the company on a journey of geographic expansion into 2022 and beyond. ”